K+S says capital increase could be used to lure anchor investor

KASSEL, Germany May 11 (Reuters) - German potash miner K+S
, which last year fended off a takeover approach by
larger rival Potash Corp, is ready to increase its
capital to make it easier for a potential anchor investor to
take a stake, its chief executive said.

"When you're talking to people who are thinking about taking
a larger slice of K+S and to become an anchor investor, you do
hear 'I don't want to accumulate 5, 6 or 10 percent over the
stock market, that's too much work, you have to present this to
me in a more custom-built way', we can now do this via our
authorised and contingent capital," CEO Norbert Steiner told
shareholders at the annual general meeting on Wednesday.

Separately, finance chief Burkhard Lohr said at the AGM he
expected the group's new potash mine in Canada, known as Legacy,
to make positive earnings contributions before interest and tax
from 2018 on, even though potash prices had fallen below initial
projections.

Lower gas and energy prices as well as a lower Canadian
dollar, in which most costs are incurred, versus a stronger U.S.
dollar, in which future revenues will denominated, are helping
the investment case, he added.
(Reporting by Ludwig Burger; Editing by Maria Sheahan)